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Ayden, North Carolina: LIHTC's Impact on Affordable Housing in a Small Town
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Ayden, North Carolina, with a population of 8,101 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 50 units. These units, all designated as low-income, represent approximately 1.61% of the town's estimated 3,104 housing units. The LIHTC program has contributed $257,567 in project tax credits to Ayden, averaging $128,783.50 per project and $5,151.34 per unit. This funding accounts for 0.06% of the total state LIHTC allocation.
The LIHTC-funded affordable housing in Ayden consists of two projects: Ashton Spring Apartments and Deer View Apartments, both completed in 2005. This indicates that affordable housing through this program has been present in the town for at least 17 years. The inventory includes 24 one-bedroom units, 23 two-bedroom units, and 3 three-bedroom units, suggesting a focus on accommodating smaller households and families.
Over the past decade, Ayden's population has remained relatively stable with slight fluctuations. The median income has shown a consistent upward trend, increasing from $35,319 in 2013 to $54,594 in 2022. This rise in median income may indicate a changing economic landscape in the town. Racial demographics have also shifted, with the white population increasing from 51% in 2013 to 60% in 2022, the Black population decreasing from 37% to 28%, and the Hispanic population growing from 9% to 13% during the same period.
Despite these demographic changes, no new LIHTC projects have been developed in Ayden since 2005. This could be attributed to various factors, including the rising median income, which might have reduced the perceived need for additional low-income housing.
Ayden's LIHTC-funded affordable housing inventory, while modest in size, provides 50 low-income units to the community. The two projects, both completed in 2005, represent a small but significant portion of the town's housing stock. Over the past decade, Ayden has experienced demographic shifts, including a rising median income and changes in racial composition. These factors, along with others not captured in this data, may have influenced the lack of new LIHTC developments in recent years. As Ayden continues to evolve, ongoing assessment of affordable housing needs will be crucial to ensure appropriate housing options for all residents.
